RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Cobinhood

Cobinhood Exchange Review

Centralized

Cobinhood Overview

  • UPDATE: May 20, 2019 – Cobinhood has performed an exit scam, filing for bankruptcy and stealing the money of their investors. Cointelligence will update their score from 6 to zero, and will leave the rating live until matters with the exchange have been resolved.

     

    Cobinhood is a cryptocurrency exchange / digital asset platform with its own platform, utility token, namely Cobinhood (Ticker symbol: COB). A Cobinhood exchange review reveals that COB token is based on the ERC20 token standard and has a total supply of 1 billion tokens. COB tokens seem to have various use cases. Users can pay in COB tokens to qualify for 50% off margin trading loan interest or 50% off withdrawal fees. It also seems that COB tokens received as payment for withdrawal fees get burned on a quarterly basis.

    A Cobinhood exchange review also shows that COB tokens held in Cobinhood exchange accounts, qualify holders for substantial savings when it comes to the ICO tokens that get underwritten by Cobinhood. COB tokens are also required for trading contests and to join airdrops via Cobinhood’s Airdrop Center. In addition, the transfer of COB tokens from one Cobinhood account to another seems to be free of charge.

    The Cobinhood website seems to be available in various languages, including English. A Cobinhood exchange review also reveals that they reward both referrers and referrals. They get rewarded in the form of “Candy Machine” tickets. The tickets can be used at Cobinhood’s “Candy Machine” to win free BTC, ETH and other digital assets / cryptocurrencies.

    This crypto exchange seems to offer an instant listing service to ERC20 tokens, where the listing of a token can be finalized in 1 day in a 1 click process. They also offer various ways to get “free” tokens, investment tools and other services.

    Cobinhood Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      0.476 BTC

      • Cobinhood Total Trading Pairs

        26

        • Cobinhood Margin Trading

          Yes

          • Cobinhood Deposit fees

            Free

            • Cobinhood Fiat Deposit

              None

              • Accepted Payment Method

                None

                • Cobinhood Native token

                  Yes

                  • Native token smart contract

                    N/A

                    • Cobinhood Trading Markets
                      • Cobinhood Stablecoins trading

                        Cobinhood Withdrawals

                        • Daily Withdrawal Limit

                          depends on Verification

                          • Cobinhood Withdraw fees

                            BTC – 0.001 BTC

                            ETH – 0.007 ETH

                            Full list of fees can be found here

                            • Cobinhood Withdraw fees discount

                              N/A

                              • Proof of Reserves

                                N/A

                                Cobinhood Exchange Rating Analysis

                                Last edit 18.07.2019

                                • UPDATE: Cobinhood has performed an exit scam, fleeing with its investors’ money. This rating was conducted prior to the incident and portrays the picture at the time of rating. We updated its score to zero (previously 6) and will remove it once all matters regarding the exchange will be resolved.

                                   

                                  Cobinhood is a Cayman Islands-based Cryptocurrency exchange, with headquarters in Taiwan. The exchange’s main benefit is its zero trading fees (similar to the stock market app Robinhood), alongside other services such as an ICO platform and margin trading. Cobinhood is fairly easy to use, on par with similar cryptocurrency exchanges of its magnitude, and the site is accessible. In relation to big cryptocurrency exchanges such as Binance or Huobi, Cobinhood doesn’t manage to attract much volume (hovering around $80K daily as of this writing) partly due to the reason it does not list a large amount of coins – 36, to be exact. There is also an option to trade cryptocurrencies against USD on Cobinhood, although the option is only accessible to those who have underwent extensive KYC and the daily trading volume on fiat pairs amounts to almost zero. The risk factor of entrusing funds with Cobinhood is hard to be determined, as while there are many roadblocks on the way to access funds – including email verification and 2FA, it is hard to assess the level of threat management the internal Cobinhood team is capable of doing, and we have not determined if there is a dedicated security expert on the team. To conclude, Cobinhood is a medium-sized exchange with many traders drawn to its zero-fees, but not enough coin listings and volume to justify becoming a major player. The exchange also displays some amount of risk to those who prefer to keep their funds on the exchange.

                                  Cobinhood IEO launchpad

                                  Stage Start date End date Fundraising
                                  DEXON

                                  DEXON

                                  Mar 27, 2019 - Apr 3, 2019 N/A

                                  Cobinhood Exchange Additional Information